PRESS DIGEST- Wall Street Journal - March 9

Reuters Staff

3 Min Read

March 9 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

- The Obama administration is proposing a test program to see if lowering reimbursements for drugs administered by some Medicare doctors would prompt them to choose lower-cost, but equally effective medications. (on.wsj.com/1LQiUV0)

- U.S. airlines are starting to review their capacity plans in the wake of a continuing drop in average fares, with the decline in ticket prices outpacing the slide in fuel costs. (on.wsj.com/1LQkkis)

- Federal officials Tuesday released a draft plan to expand a $9.25-a-month phone subsidy for low-income people to include broadband Internet service. The plan, tentatively announced in mid-2015, is aimed at helping bridge a potentially worrisome divide between higher-income and lower-income households when it comes to Internet access. (on.wsj.com/1LQjB0D)

- The possibility of a New Jersey Transit strike next week has forced some New York City businesses to draw up contingency plans - from car pooling to telecommuting - for employees who rely on the railroad to get to work. (on.wsj.com/1LQjWjX)

- Federal Reserve officials are likely to hold short-term interest rates steady at their policy meeting next week and leave open ended, when they will next raise rates given their uncertainties about markets and global growth. (on.wsj.com/1LQkyGb)

- Gordon Bethune - former boss of one of the airlines that merged to form United Continental Holdings Inc - says he wants to be the chairman of the struggling carrier's board, joining two hedge funds waging a battle for control of the board. (on.wsj.com/1LQnGSz)

- China is poised to overtake the U.S. as the biggest movie market in the world while regulators probe whether distributors are buying tickets in bulk to boost box-office totals. (on.wsj.com/1LQotTo)

- The Canadian unit of Exxon Mobil Corp said Tuesday it has agreed to sell its remaining company-owned retail gas stations in Canada to five fuel distributors. Imperial Oil Ltd said the deal for 497 Esso-branded outlets across Canada is worth C$2.8 billion ($2.08 billion). (on.wsj.com/1LQoFC9)

- Valeant Pharmaceuticals International Inc is in discussions to add as many as three new directors to its board as the drugmaker seeks to reassure investors, according to people familiar with the matter. (on.wsj.com/1LQoHKp) ($1 = 1.3430 Canadian dollars) (Compiled by Shalini Nagarajan in Bengaluru)